Converting a Lease early question on dealer fees

[Jcsii]

Has anyone bought out their lease early?
I have about 10 months left on the lease and plan on keeping it so though I would by it out early. Math works out so that it makes sense but the dealer we went to (Chrysler is the lease holder) has started adding all sorts of costs. Some seem reasonable, some not so much..

- tax tag etc, got to have that..
- inspection? not sure why.. maybe for a loan if I get that.
- Doc fee? not sure what that's for if I get a loan through them I assume that would get some points for that.

I think there were a few others.
Calling Chrysler today to see what they actually require but also though I would see what others have ran into.

Thanks

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[OHJeeper]

Skip the dealer and call Chrysler Financial directly. The dealer honestly has nothing to do with it now, just like if you got a lease from some other financial institution.

But, other than the inspection all those fees seem legit, depending on the amount.

Inspection could also be fine, but I would think the new lienholder would be the one to ask since they are extending a loan against the value of a Jeep they haven't seen and is 3 years old.

 

[ilovebikes99]

Has anyone bought out their lease early?
I have about 10 months left on the lease and plan on keeping it so though I would by it out early. Math works out so that it makes sense but the dealer we went to (Chrysler is the lease holder) has started adding all sorts of costs. Some seem reasonable, some not so much..

- tax tag etc, got to have that..
- inspection? not sure why.. maybe for a loan if I get that.
- Doc fee? not sure what that's for if I get a loan through them I assume that would get some points for that.

I think there were a few others.
Calling Chrysler today to see what they actually require but also though I would see what others have ran into.

Thanks

Looks like they want to shaft you.
1) get your own financing (credit union or whatever)
2) tag? you already have a tag. Right?
3) inspection? For what? Does your bank want to inspect the vehicle?
4) only pay what it says in your lease contract. There should be a buyout fee or whatever it is called. Also they should not charge you the lease end (return) fee
5) Chrysler capital gives shitty APR

 

[Challenger85]

Sounds like nonsense. Go to any bank and ask for a lease buyout. Unless Chrysler charges fees for buying out a lease (highly doubtful) there’s no charges. I did this on my last vehicle and all they did was call Bellco and get a pay off, easy to do. You might (depending on your state) be liable for any taxes you didn’t pay at lease signing. Some states charge them, some don’t.

 

[techteacher]

Used my local credit union directly and bypassed the dealer. They took care of everything and I just have to go get the title when it comes in and take it to the DMV to process the tags. Did everything online and over email.

 

[Jcsii]

Thanks for the feedback..

 

[RichDSport]

A few notes because I went through this with Ally. They won’t allow you to sell your car directly to any dealer other than a Jeep dealer, or the one you bought it from—it’s a huge PITA. (They can buy it, but it’s stupid expensive at “market value.”) If you’re in a tax advantage state, you’ll want to buy your vehicle outright so you can trade it. That means using/financing some cash short term so you can pay it off, then be prepared to wait a couple of weeks to get your title. I had to keep calling them to get the process moving forward. When you trade in your vehicle you can take a check to pay off whatever you owed.

Anyway this is mostly only a concern as long as used cars are crazy expensive. Obviously if you’re financing and keeping the car, your bank or credit union will take care of the payoff and title. You will probably have to pay sales tax on the purchase price.

 

[PsyRN]

when I looked into it, I called Chrysler financial and they provided a buy-out price. Basically the residual + what's left owed on the lease. Worked out that I wouldn't really be saving anything by buying it out early. I do plan to keep mine, but there was no rush to do it now.

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